smart-money-report.com Blog

The silver ETF (SLV) had a triple top breakout on the point and figure chart when it traded up to 128.

Goldcorp (GG) and one of our stocks, Glamis Gold (GLG), are going to combine. GLG is up about 20% on the news.

Update: Here’s some more information on the deal. Keep in mind, Davis has been bearish on gold.

Here is as good an explanation as any why I think it’s a good idea to watch CNBC with the sound muted unless Rick Santelli is reporting from the floor.

I’ve been expecting this:

It’s the moment that many investors have been waiting for — an easy way to invest in the red hot commodities market without trading futures or taking physical delivery. That’s because ETF Securities is about to launch 19 Exchange Traded Funds (ETF) in September that will allow commodity fans to invest in a range of products that span aluminium to zinc, and lean hogs to live cattle. It is also launching 10 separate baskets of commodities trackers that will group together products such as agriculture, energy, livestock and precious metals.

Update 8/31/06: Here is some more information on the coming commodity ETFs. There are actually 29 of them and it looks like they cover pretty much everything.

Update 9/1/06: Still more from Roger Nusbaum

Overconfidence can be a killer in this business.

Todd Harrison offers Five Themes For The Next Five Years

Reuters interviews Richard Russell. The bottom line is that a recession may not be avoidable. The housing market is not going to be able to have a soft landing. The stock market can’t get anywhere on the upside, so it will come down. And he advises people to own cash and lots of gold.

Looking for a guaranteed 130% profit? Here it is.

Free Money Finance sets his “retirement number.” There’s more than one way to to it, but his way will get you in the ball park.

Land of Black Gold links to a street.com video interview with Stephen Leeb, the author of The Coming Economic Collapse, How You Can Thrive When Oil Costs $200 a Barrel.

In the interview, Leeb asks his interviewer a question: How many Wall Street firms think that oil is going to be higher five years from now than today? Answer: Zero.

I didn’t realize that. Apparently even Goldman Sachs, who is the most notable firm to call for $100 oil, thinks that after going higher it will come back down to $40.